2) Cash Sales (frequently investors) were down to 20.2% of total sales.

3) Active inventory is now up 3.4% year-over-year.

More inventory (a theme in 2014) - and less investor buying - suggested price increases would slow sharply in 2014. And prices increases did slow in 2014, only increasing 2.4% according to Case-Shiller.

In 2015, with falling inventory, prices increased a little faster - Prices were up 6.3% in 2015 according to Case-Shiller.

Now inventory is increasing a little again, and - if this trend continues in Phoenix - price increases will probably slow in Phoenix. Prices in Phoenix are up 2.2% through July (about a 3.7% annual rate) - slower than in 2015.